Managementanagement S raStrategyegy ▶ ▶ Top Commitment
Top Commitment
■ Review of the previous three-yearmedium-term management plan (FY2018-2020)
- Taking Changes in the Social Environment as an Opportunity for Business Transformation and Structural Reform
Tokyu Understanding |
In the previous medium-term management plan, we steadily implemented and completed priority measures, including large-scale development projects such as the Shibuya Scramble Square East Building and Minami-Ma- chida Grandberry Park, and safety investments such as the 100% installation of railway platform screen doors, etc.
On the other hand, we were greatly affected by the spread of COVID-19, and unfortunately we were unable to achieve our numerical targets.
Since our founding in 1922, we have grown by transforming our business portfolio in response to the changing needs of the times, based on our railway business and centered on urban and community development, which involves the development of areas along Tokyu's railway lines, etc. Currently, we focus on four business fields: transportation infrastructure business, urban development business, lifestyle service and retail business, and hospitality business. Because most of our business is based on the movement and accumulation of people, the restraint during the COVID-19 pandemic has had a significant impact on our business performance.
The damage to the railway business, which had been a stable pillar of revenues for many years, was particularly devastating. Up until two years ago, the priority issue we faced was how to alleviate congestion during rush hours in light of the population along the railway lines, which is expected to continue to increase after peaking in 2035, while keeping in mind issues such as the future decline in population and the decrease in commuting demand due to the working style reform. With regard to the forecast for the recovery of the number of passengers, we assume that the number of non-regular passengers will return to the previous level, but the number of passengers using commuter passes will not return to the previous level due factors such as the spread of remote work. These changes in the business environment and society are not limited to transportation infrastructure business, but extend to all businesses. As values and lifestyles continue to transform, we need to re-examine what social value we can provide through our business. If social issues change, what we do should and will change. We believe that this recognition is extremely important for sustainable management.
Story Creation Value | |
Strategy Management | |
Achievements | and Strategies |
Business by | |
Source |
Once again, we will stand at the starting line "Toward a Beautiful Age" and realize transformation
■ New three-yearmedium-term management plan (FY2021-FY2023): Transformation
- Restore Revenues by Responding to Changes in the Business Environment and Implementing Structural Reforms
Creation Value of |
Foundations Sustainability |
Kazuo Takahashi
President & Representative Director
TOKYU CORPORATION
2020, when we began to formulate the new medium -term management plan, was the time when the COVID-19 pandemic had caused the most damage. Although it was not easy to make a new plan when the future was unpredictable, we first focused on rebuilding a business that was hurting, and our first goal was to become profitable in the first year of the plan, FY2021. This is a strong indication of the determination of management to avoid consecutive losses as a listed company that aims for long-term stable management.
The theme of the new medium-term management plan is transformation. Some time has passed since the
COVID-19 pandemic, and the challenges we face and the things we need to devise under the new normal are gradually becoming clearer. In light of this, we will work to restore profitability by responding to changes in the business environment and implementing structural re- forms. We are determined to use this crisis as an oppor- tunity, and as a turning point for new growth.
With regard to the business strategy of each segment, we will not only maintain financial health, but also incorporate elements of ESG and DX (digital transformation), and promote the growth of areas that are compatible with new lifestyles and work styles.
for |
Information Company |
16 | 17 |
Management Strategy ▶ Top Commitment
- Transportation Infrastructure Business
- Providing transportation services appropriate for the new normal
In addition to the core railway business, the transportation infrastructure business includes the bus business and airport management business.
Tokyu Railways will strive to provide social value and improve efficiency while placing safety and security at the core of our operations. For example, as an industry leader in the installation of platform screen doors and barrier -free measures, we have continued to make high-level capital investments, and through the development of a railway network based on directly connected operations, we will continue to enhance the value of the area and create social value by providing advanced services that facilitate the movement of all people through our railway network. In addition, we will continue to provide transportation services that are appropriate under the new normal by achieving a balance with revenues, through means such as by converting the Toyoko Line to one-man driving, optimizing operation schedules, and improving operational efficiency through the use of technology.
such as developing housing to attract younger generations to move to the area and revitalizing the town.
In urban areas, we will create attractions that can only be experienced in real life. In Shibuya, one of our most important locations, we have formed a partnership with LCRE (L Catterton Real Estate), a real estate development company of the LVMH (Moët Hennessy Louis Vuitton) Group, and by integrating it with the adjacent Bunkamu- ra, we plan to create a world-class quality facility that will represent Japan.
Another important thing is the real estate business portfolio. In addition to the portfolio by region and use, we will also control the ratio of ownership and sales with an awareness of capital efficiency. While we tend to perform mixed-use development that we will hold for 20 or 30 years, from the perspective of capital efficiency and early value enhancement, we will also work on asset turnover type building business.
- Lifestyle Service and Retail Business
- Respond quickly to changing customer needs |
and market trends through collaboration with |
distribution or the nature of new cinema complexes under the new normal. In order to be able to expand from the business of attracting customers, which involves moving people around, to the side of providing content, we established a BS broadcasting company as a joint venture with Shochiku. In addition, we have started a 5G base station sharing service jointly with Sumitomo Corporation in order to achieve a high-speed communication (5G) environment around Shibuya Station and the areas along Tokyu's railway line as soon as possible. In the lifestyle service and retail business, we believe that collaboration with other companies will be the next big step.
- Hospitality Business
- Establishing a system that is resilient to changes in the environment and provide services
The hotel and resort business was most severely affected by the spread of COVID-19. This was an abrupt turn
from the situation just before COVID-19, when the government was aiming for 40 million foreign visitors to Ja- pan. Hotels in the city center, which were dependent on inbound tourists and business travelers, were particularly affected. First of all, we need to review our operation system and lower the break-even point by reducing fixed costs in order to return to profitability, and at the same time, we need to take measures to capture the recovery demand after the COVID-19 pandemic is over.
From the perspective of turning a difficult situation into an opportunity, we will provide services flexibly and quickly to meet the needs that have expanded along with the COVID-19 pandemic, such as workation, tele- work, and micro-tourism. Regrettably, the hotel business is expected to record a loss again in FY2021 but we will aim to make it profitable in FY2022 and beyond.
See: Three-YearMedium-Term Management Plan, page 22 to 25
Strategy by Business, page 32 to 39
Tokyu Understanding |
Story Creation Value |
Strategy Management |
andStrategies Achievements |
On the other hand, for businesses outside of our railway lines, our medium to long-term approach is to maintain and increase the human flow of residents and tourists while taking into account the characteristics of each region, and to grow our business along with regional re-
digital transformation and other companies |
The supermarket business has been performing well, as we have been able to capture nesting demand and the point linkage with Rakuten has led to the acquisition of
■ Developing human resources to support transformation
- Increase Corporate Value by Maximizing the Individual
Business by |
Source |
vitalization. However, for the time being, we will steadily capture recovery demand while improving our resistance to a decline in travel demand.
- Urban Development Business
- Development the areas served by Tokyu's railway lines and portfolio optimization
In the urban development business, sales of large-scale condominiums and detached houses along the railway lines are strong, reflecting the focus on the suburbs due to changes in lifestyles. In light of this situation, we will focus more than ever on the development of the areas along the railway lines that are rooted in the local com- munity. For example, there is a need for housing not only in front of stations, but also some distance away from stations, as long as the living environment is well maintained. In addition, in areas where the population is aging and there is no progress in generational change through resettlement, we will enhance the value of the area through both tangible and intangible measures,
new customer segments. We will continue to enhance our services and improve operational efficiency by expanding e-commerce, digital marketing, and utilizing technology.
In the department store business, while the decline in sales has been unabated since before the COVID-19 pandemic, we are developing a major food market in the Shibuya area with Toyoko Noren-gai and Tokyu Food Show as one of our focus areas, and at the same time, we are promoting reforms to create a cost structure that is commensurate with income by reallocating personnel to growth areas. Going forward, we will transcend the boundaries of existing business formats such as department stores, supermarkets, and shopping centers as Tokyu Retail to provide a shopping experience that exceeds customer expectations.
In the ICT media domain, Internet services from its communications Inc. have been strong, reflecting the growing need for indoor communication environments for telecommuting and online classes. Meanwhile, in the entertainment field like Tokyu Recreation, the pandemic given us an opportunity to think more than ever about
In our new medium-term management plan, we have set forth a policy of maximizing the individual as our human resource strategy. This means that each and every one of us should be aware of what we need to do in order to achieve the new medium-term management plan.
With human resource development in mind, which will contribute to the realization of the transformation set forth in the new medium-term management plan, we will continue to work on the development of our em- ployees, including their mindset.
We have always put a lot of effort into our human resource development programs, including exchanges with other companies. However, group education alone is not enough to develop the individual. We believe that by considering what the company can provide according to the wishes and abilities of each individual, and by building a mutual relationship through engagement, the individual in the true sense of the word will come alive, and the existence of diverse individuals will surely bring about innovation.
We have established the System for Fostering Entrepreneurial Employees (SK System) as an opportunity for
taking on challenges so that employees can demonstrate their individual strengths, and we value the seeds of innovation that are born from this system. Various business ideas have been generated through this system, and we will back them up as something that will lead to new businesses.
Also, in terms of empowering women, we have been hiring more women over the years, and the number of female management-level employees has been increas- ing. In the future, we expect to see more women being promoted to senior management positions. As a management strategy, the company has been focusing on initiatives to utilize diversity and employee health man- agement, and has been recognized for seven consecutive years under the Health & Productivity Stock Selection, and nine consecutive years as a Nadeshiko Brand, the only company in all industries to be selected for this length of time.
See: Human resource strategy, page 40 to 43
Empowerment of women, page 42
Creation Value of |
for Foundations Sustainability |
Information Company |
18 | 19 |
Management Strategy ▶ Top Commitment
■ Value creation for 2030
- Maximizing the Value of the Area by Creating a Series of Unique and Attractive Communities -
■ Thoughts on sustainable management
-"Toward a Beautiful Age"
Tokyu Understanding |
In 2019, we compiled our management stance and area and business strategies through 2030 into a long-term management initiative.
As a comprehensive lifestyle industry that contributes to the lives of our customers, we have carried on the resolution of social issues through our business as part of our DNA, and we have earned the support of our customers by expanding into a variety of business fields in response to the changing times in order to continuously enhance area value along the Tokyu railway lines and elsewhere.
Under the new normal, we believe that a lifestyle that combines telework and mobility will become wide- spread, in which people will not have to commute to the center of the city five days a week, but will be able to make short trips to nearby places and live an active life. For this reason, our goal is to create communities where people can "work," "live" and "play" in close proximity to where they live, and when we look at the entire railway line, we see that the value of the railway line itself is enhanced by a series of unique communities. It is not enough to aim for communities that look the same ev- erywhere, even if they have all the necessary functions, it is also important to incorporate the color and characteristics of each place. Along the Tokyu railway line, a number of attractive communities have been developed by Tokyu, such as Futako-tamagawa, where urban and natural environments coexist, Tama-plaza, a residential area with abundant greenery that is being developed as a next-generation suburban town, and Minami-machida, where parks and commercial facilities have been integrated around the station. If these hubs can be directly connected by stress-free mobility (transport), we believe that the mobility patterns of people will change.
In addition, as a new growth opportunity, we established a new department specializing in uniformly implementing the digitization of service provision in each business area from October 2021 in order to promote urban development that combines digital platforms that support people's lifestyles. By doing so, we aim to create the next generation of Self-contained and dispersed urban development by capturing latent needs using digital technology in addition to the real customer contact that
has been the hallmark of the Group up until now.
One of the characteristics of our company is that each business is closely related to each other within a single base or area in order to create attractive commu- nities. In the Futako-tamagawa area mentioned above, the station is the starting point and the company leases shopping centers and offices in adjacent areas, while its consolidated subsidiaries operate supermarket business and hotel businesses, and also engage in subdivision and sale of tower condominiums. Before the redevelop- ment, it was mostly a shopping town. However, it has been transformed into a community visited by a diverse group of people, including office workers and families. In this way, we are working to uncover new needs and provide unprecedented added value through collaboration among our businesses. In addition, we are aggressively pursuing alliances with other companies for areas that cannot be solved by the Group alone. For example, in the Shinjuku Kabukicho 1-chome Redevelopment Project, which is scheduled to be completed and open in 2023, we will collaborate with Sony Music Enter- tainment, our partner in the operation of theaters and live halls, to provide not only hotels and cinemas in the facilities, but also attractive entertainment for everyone around the world from the entire Shinjuku Kabukicho area together with the people of the community.
See: long-term management initiative, page 22 Self-contained and dispersed urban structures, page 11 Future vision, page 14 and 15
Our company will soon be celebrating its 100th anniversary in 2022. However, when we look ahead, now there are doubts about whether the global environment can be maintained for the next 100 years. For this reason, we believe that only by addressing social and environmental issues head on will we be qualified to talk about the next 100 years and prosperity. Although we still aim to be a sustainable company, before we can do that, we need to realize the premise that there is a sustainable society. For this reason, we have changed our key sustainability theme for the environment from low-carbon to decar- bonization, and set a goal of zero CO2 emissions. As for the response to the impact of climate change, because we are in the business of supporting urban infrastructure, we need to consider not only physical measures based on long-term projections, but also what we can do as a business opportunity to encourage behavioral change in society.
In addition, urban and community development that benefits only the business and sacrifices the local community cannot be sustained. We have been doing business in this area for 100 years, experiencing that even if profitability temporarily declines, prior measures that truly benefit the people living along Tokyu lines become the seeds for future business that will eventually come back to us. Our actions to protect intangible assets such as safety, security, and trust that our predecessors have built up, and to further refine them in the future so that they can be used for the next generation, will lead to a successful combination of our company's growth and the improvement of the sustainability of communities. This is what our Long-termRecycling-based Business Model is all about.
Although we have been hit by an unpredictable pandemic from the spread of COVID-19, as a company that supports urban infrastructure, the Group has a responsibility to continue our business and is made up of essential workers, that is, employees who work at real sites such as railway, buses, supermarkets, senior facilities, daycare for school children and pre-school children, and hospitals. When I think of the employees who are fulfilling their duties at the front line of customer contact under the
risk of infection, including the frequent declarations of a state of emergency, I cannot help but feel grateful. The safety of our employees is an important prerequisite for business continuity, and we take measures against infectious diseases and provide vaccinations in the workplace to ensure the best possible working environment.
We will continue to protect our corporate value and our brand value, as well as the trust that customers have in the Tokyu brand, by ensuring safety and security in all our business activities, which is the foundation of our business. With this as our primary foundation, we will continue to provide services that resonate with custom- ers, including those living along our railway lines, and we will create communities that are not just beautiful on the surface, but that enable people to truly feel comfortable using the products and services of the Tokyu Group. In order to achieve this goal, the Tokyu Group will once again stand at the starting line of "Toward a Beautiful Age" and realize transformation.
See: Group slogan
"Toward a Beautiful Age-Tokyu Group" page 2 Decarbonation and a Recycling-Based Society, page 50 to 55
Long-termRecycling-based Business Model, page 10
Story Creation Value | |
Strategy Management | |
Achievements | and Strategies |
Business by | |
Creation Value of Source | |
Sustainability | for Foundations |
Information Company | |
20 | 21 |
Management Strategy ▶ Overview of the Three-YearMedium-Term Management Plan
Overview of Three-YearMedium-Term
Management Plan
In September 2019, the company announced its long-term management initiative for 2030. In May 2021, even in face of the COVID-19 pandemic, we formulated a three-yearmedium-term management plan (FY2021-FY2023) in light of changes in the business environment, while promoting initiatives for the long-term management initiative.
Changes in the Value Demanded
Understanding |
Long-Term Management Initiative
Digitalization, demographic changes and other social changes | In addition, in FY2020, society underwent dramatic changes due |
are accelerating, and our business environment is undergoing | to the spread of COVID-19. Despite these circumstances, our vision |
significant changes like never before, including the actualization of | for the future remains unchanged, and under the Group slogan |
climate change risks. In this environment, we formulated a long- | "Toward a Beautiful Age," we will continue to tackle important |
We will capture signs of mid-term paradigm changes based on changes in society, including behavior and needs, and build strategies for each business to achieve sustainable growth.
In response to changes in lifestyles and society, such as an increase in the number of hours spent at home and a decrease in commuting to work in the city, we believe that we need to shift from a business structure based on the traditional concept of "suburbs as the center for housing and urban centers as the center
for office and commercial activities" to a business development based on the concept of self-contained and dispersed urban structures that capture diversifying and multilayered needs, which will lead to growth in each of our businesses.
In addition, we will stimulate demand for intra-regional travel by arranging functions for work, living, and play at the stations along Tokyu's railway lines that serve as transportation nodes.
Tokyu |
Creation Value |
term management initiative in September 2019 to speed up efforts | sustainable themes and implement a Long-termRecycling-based |
to optimize group management and clearly indicate Tokyu's visions | Business Model. |
for the future and the direction in which Tokyu will go. |
2019 | 2021 | 2030 |
(now) | ||
Long-term management initiative
Three-yearmedium-term
management plan
Increase in time at home | Changes in lifestyles | Decrease in urban commuters | Diversification of values | ||||||
Home to nearest station | Tokyu areas | Urban areas | |||||||
(small areas) | (around traffic hub stations) | (wide areas incl. Shibuya, Yokohama, etc.) | |||||||
Improve quality of time/space at home | Stimulate demand for | Create charm that can only be | |||||||
intraregional travel | experienced physically | ||||||||
Highest level in Japan | As a symbol of areas served by Tokyu's railway lines | Admired by people around the world | |||||||
Providing houses and communication | Area branding and building complexes | Development of foreign based cities | |||||||
facilities meeting new demands, IENAKA | Revitalization through the functional | Proposal for urban lifestyles | |||||||
(in-home) solutions, and convenience of | placement of work, living, and play | (improved residence functions) | |||||||
proximity to train stations | and invitation of industry-government- | Entertainment, communication, | |||||||
academia collaboration | and emergence |
Story |
Strategy Management |
Group slogan
Sustainable
management
Group slogan
Toward a Beautiful Age-TokyuGroup
Sustainable management
Material | Safety & Security | Quality of Living Environment |
sustainability | Urban and Community Development | HR Development |
themes | Decarbonation, Recycling-based Society | Corporate Governance & Compliance |
Long-term management initiative
Creating a beautiful living environment for our future
Growth strategy for 2030
Unchanging values
Creating a beautiful living environment for our future
Continuous solution of social issues through business
Shift to business development based on the concept of self-contained and dispersed urban structures
We will no longer have the conventional single-axis structure of "homes = suburbs," and "offices and commercial space = city center," but will instead steadily capture the diversifying and multilayered needs of our customers and link them to the growth of each business
Review of the Previous Three-YearMedium-Term Management Plan (FY2018-2020) and Future Issues
Achievements | and Strategies |
Business by | |
Value of Source |
Long-term
management
initiative
and overseas | infrastructuresTransportation | developmentUrban | RetailandserviceLifestyle | Hospitality | ||
Shibuya | ||||||
Area strategy | ||||||
Areas served by | Tama Den-en-toshi | Business strategy | ||||
Tokyu's railway | ||||||
lines | Target management | |||||
indicators | ||||||
Key areas in the areas | Contribution | |||||
served by Tokyu's | ||||||
to society | ||||||
railway lines | ||||||
Challenges | ||||||
Areas not | Other areas in Japan | for the future | ||||
served by | ||||||
Tokyu's railway | ||||||
lines |
We steadily implemented and completed priority measures, including large-scale development projects such as the Shibuya Scramble Square East Building and Minami-Machida Grandberry Park, and safety investments such as the 100% installation of platform screen doors.
On the other hand, our major industries such as transportation business (railway, buses, etc.), hotels and department stores were greatly affected by the spread of COVID-19 (see "Strategies and
Achievements by Business" on page 32 to 39), and we were unable to achieve our numerical targets.
In the process of the new normal under the COVID-19 pandemic, it is expected that the situation will continue to be uncertain due to the repeated convergence and spread of the infection. We will restore profitability by steadily implementing responses to changes in the business environment and implementing structural reforms.
Creation | |
Sustainability | for Foundations |
Background Behind the Formulation of the Three-YearMedium-Term Management Plan
- Operating Profit
- TOKYU EBITDA
▶ Interest-bearing |
Debt/TOKYU EBITDA |
In formulating the three-yearmedium-term management plan, we have sorted out the changes in the business environment that should be especially considered over the next three years, while
- Changes in the Business Environment
Decrease in people traveling and meeting due to COVID-19
Accelerated transition of work and life styles
maintaining the same values. We have formulated our Basic Policies (see page 24) with an eye to how we will respond to these changes.
Shrinking population, declining birthrates and an aging population,
and their regional disparities
Rapid shift to a decarbonized society at the global level
Rapid development of digital technology
(Billion yen) | 97.0 | |||
77.0 | 81.9 | 78.0 | ||
68.7 | ||||
Plan | Plan | Plan | -31.6 | |
FY2018 | FY2019 | |||
FY2020 |
(Billion yen) | 206.4 | |
175.0 176.6 | 184.5 176.5 | |
74.7 | ||
Plan | Plan | Plan |
FY2018 | FY2019 | FY2020 |
Multiple |
End of FY2020
(Plan) 5.3 times
(Results) 15.8 times
22 | 23 |
Management Strategy ▶ Overview of the Three-YearMedium-Term Management Plan
Basic Policies and Key Strategies of Three-YearMedium-Term Management Plan
First Year Achievement Standards
Understanding |
The basic policy of this management plan is transformation, and | To achieve this transformation, we have set four key strategies: |
responding to the changes in the business environment accelerated | strengthening the business structure of the transportation |
by COVID-19 and promoting structural reforms, we aim to restore | infrastructure business, supporting new values in the real estate |
the scale of our earnings and position the next three years as a | business, evolving into businesses and services that respond to new |
turning point for new growth. | lifestyles, and promoting structural reforms in each business. |
Basic policies "変革 (Henkaku) ": Revenue recovery and growth by responding to changes in the operating environment
In the first year of the plan, we will steadily implement structural reforms and other measures to ensure that we return to profitability, and at the same time, we will proceed with reforms to restore the scale of earnings to that before the COVID-19 pandemic as soon as possible. In the second year and beyond, we will work to achieve a steady recovery in profits in each business. In addition, we will maintain our financial health by aiming for a recovery in the interest-bearing debt to EBITDA ratio to the level of 7 times.
(Reference) | FY2021 | ||||||||||||||
FY2020 | |||||||||||||||
TOKYU EBITDA | 74.7 billion yen | 118.7 billion yen | |||||||||||||
Operating profit | -31.6 billion yen | 20 billion yen | |||||||||||||
Interest-bearing Debt/ | 15.8 times | 10.3 times | |||||||||||||
TOKYU EBITDA Multiple | |||||||||||||||
Tokyu |
Creation Value |
Aim to restore the revenue level by responding to current changes in the operating environment and implementing structural reforms and other measures and position the current period as "the turning point to new growth"
Investment Plan and Shareholder Returns
Story |
Revenue | • FY2021: Secure operating profit of 20 billion yen | Maintenance | Interest bearing debt / TOKYU EBITDA multiple |
of financial | |||
recovery | • Achieve a steady profit recovery in each business | Recover to 7 times (FY2023) | |
health | |||
We will review and re-examine our investment plans according to our business performance, with an awareness of financial health. We will steadily implement investments in safety, maintenance and renewal, ongoing large-scale projects in Shinjuku and Shibuya, and
investments related to structural reform.
Our approach to shareholder return is to aim for a dividend payout ratio of 30% or more in the medium term, and we plan to pay an annual dividend of 15 yen for the current fiscal year.
Management |
• Strengthen business structure in the transportation infrastructure business |
Investment
Steadily implement safety and maintenance/
Concept of | Continue stable dividend payments and aim for |
Strategy |
Key | • Respond to new values in the real estate business |
strategies | • Change business and services corresponding to new lifestyles |
- Implement structural reform in each business
* TOKYU EBITDA = Operating profit + Depreciation + Amortization of goodwill + Disposal cost of fixed assets + Interest and dividend income + Investment gains (loss) from equity method
plans renewal investment, large projects in progress, and investments related to structural reforms
Planned capital investment for FY2021: 127.7 billion yen [Reference] (Investment in growth : 53.8 billion yen / Investments for
existing business : 73.9 billion yen)
shareholder | a dividend ratio of 30% or more in the medium |
to long term, with an awareness of the total | |
returns | |
return ratio | |
Achievements | and Strategies |
Business by |
Changes in Environmental and Business Strategies
Toward the Future of Shibuya
In light of the changes in the environment surrounding each of | responding to environmental changes and implementing structural |
our businesses, we will not only restore profitability, but also turn | reforms rather than extending existing business models. |
challenges into opportunities and turning points for new growth by |
Past | From now | |
Transportation | Business to meet demand for commutation to central Tokyo | The number of passengers carried will not return to the |
Infrastructure | ⇒ Investment in large facilities to raise transportation | previous level even after the pandemic |
(Transportation | capacity and reduce overcrowding and long term | ⇒ Change from earnings structure focusing on commuters |
Segment) | recovery of invested capital | and create demand for intraregional travel |
Urban development through the redevelopment of urban | Property selection and the trend of the survival of the | |
Urban | fittest among areas will continue to grow with changes | |
infrastructure, etc. | ||
Development | in work styles and demand conditions | |
⇒ Supply rental properties such as offices and commercial | ||
⇒ Re-examine the uses and sizes demanded | ||
(Real Estate | spaces based on building complexes and increase area | |
Segment) | Develop growth areas with a focus on asset | |
value | ||
replacement and fund efficiency | ||
Lifestyle Service | Raise the value of Tokyu areas through various businesses | Physical and digital services will be seamless as changes |
and Retail | and bundles | in lifestyles accelerate |
(Life Services | ⇒ Develop business with a focus on physical contact with | ⇒ Focus on areas where Tokyu can exert its strengths and |
Segment) | customers and services and also work on e-commerce | grow services that meet current demand |
Hospitality | The overall industry saw rapid growth with increase in | Competition is intensifying in addition to uncertainty |
inbound tourism | about the future | |
(Hotel and Resort | ||
⇒ Continue the conventional hotel chain business | ⇒ Implement structural reforms and take measures to | |
Segment) | ||
Actively open new hotels, particularly in urban areas | raise profitability | |
Toward the future of Shibuya, the most important center of the city, we are promoting development plans, including public-private partnerships, and multilayered initiatives that contribute to improving the attractiveness of the city. In addition, on July 29, 2021, the company and Tokyu Land Corporation announced the Greater SHIBUYA 2.0 urban and community development strategy for the area around Shibuya Station and the greater Shibuya area, aiming to create a sustainable city by providing social value unique to the Tokyu Group. In addition to further strengthening the Entertainment City SHIBUYA and the Greater SHIBUYA Concept that we have been promoting, we will organically connect the three elements of "work," "play," and "living," as well as digital and sustainable elements that form the foundation of these three elements in an aim to realize a Shibuya-style urban life that allows people to experience a way of life that is uniquely their own along with affluence in harmony with people, nature, and society.
Greater SHIBUYA 2.0
Offering a Shibuya-style
urban life
Work | Play |
Flexible | Touchable |
Live
SwitchableDigital
Sustainable
Development plan area
Expansion of development area to | ||||||||||
the area surrounding the station | ||||||||||
Being planned | Creation of an axis of liveliness that will become a symbol | |||||||||
of Entertainment City SHIBUYA | ||||||||||
Dogenzaka 2-24 | Tokyo Metro Fukutoshin Line | |||||||||
Land Development Plan | ||||||||||
(Currently Tokyu Department Store Main Store land) | Shibuya Cast | AoyamStraeet | ||||||||
JR Yamanote Line, Saikyo Line, | ||||||||||
Shonan Shinjuku Line | ||||||||||
Tokyu Hands Shibuya Store | Miyashita | |||||||||
Park | ||||||||||
Seibu Department Store | Development of a new pedestrian network | |||||||||
Bunkamura | Loft Building | that enhances continuity and unity | ||||||||
Seibu Department Store | ||||||||||
Tokyu | B Building | Shibuya Tokyu | ||||||||
Department Store | Seibu Department Store | |||||||||
REI Hotel | Miyamasuzaka | Shibuya Hikarie | ||||||||
A Building | ||||||||||
QFRONT MAGNET by | ||||||||||
Under development | SHIBUYA 109 | Under development | ||||||||
Shibuya Scramble Square Phase II | Shibuya | Shibuya 2-Chome 17 District | ||||||||
Station | Shibuya Cross | |||||||||
(Central Building, West Building) | ||||||||||
Tower | Category 1 Urban Redevelopment Project | |||||||||
Keio | Shibuya | Konno Hachiman Shrine | ||||||||
Inokashira | ||||||||||
Police Station | ||||||||||
Line | ||||||||||
Shibuya Fukuras | Shibuya Scramble Square Phase I | |||||||||
Tokyu | Cerulean Tower | (East Building) | ||||||||
Den-en-toshi | 246 | |||||||||
Line | Route | |||||||||
Shibuya Solasta | Shibuya | Shibuya Stream | ||||||||
Cultural Center Owada | ||||||||||
Under development | Shibuya | |||||||||
Shibuya Station Sakuragaoka Exit area | ||||||||||
River | ||||||||||
Category 1 Urban Redevelopment Project | Shibuya Bridge | |||||||||
*An association in which Tokyu Land Corporation participates | Hachiman | Tokyu Toyoko Line | ||||||||
Street |
Development in five blocks in the central station area
Steady implementation of the ongoing redevelopment plan
Creation Value of Source |
for Foundations Sustainability |
Information Company |
24 | 25 |
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Tokyu Corporation published this content on 29 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2021 08:10:02 UTC.